Another stock that's starting to move within range of triggering a near-term breakout trade is Cliffs Natural Resources ( CLF), a mining and natural resources company that produces iron ore pellets, fines and lump ore, and metallurgical coal. This stock has been hammered by the sellers so far in 2013, with shares off by 47%. If you look at the chart for Cliffs Natural Resources, you'll notice that this stock recently formed a double bottom chart pattern at $15.50 to $15.41 a share. Following that bottom, shares of CLF have started to uptrend strong, with the stock moving higher from its low of $15.41 to its intraday high of $20.50 a share. During that uptrend, shares of CLF have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CLF within range of triggering a near-term breakout trade. >>4 Big Stocks on Traders' Radars Traders should now look for long-biased trades in CLF if it manages to break out above some near-term overhead resistance levels at $20.30 to $21.96 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 9.87 million shares. If that breakout triggers soon, then CLF will set up to re-test or possibly take out its next major overhead resistance levels at $23.59 to its 200-day moving average at $26.26 a share. Any high-volume move above its 200-day will then put $30 within range for shears of CLF. Traders can look to buy CLF off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $19.27 a share, or right near its 50-day at $17.93 a share. One can also buy CLF off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point. This is another name that is very popular among the bears, since the current short interest as a percentage of the float for CLF is very high at 36.8%. If that breakout hits soon, then CLF could easily see a monster short-squeeze, so be prepared to play it if it triggers with volume.